The firm is bringing its a number of totally different insurance coverage titles beneath the Falvey title.
“Falvey Insurance Group is really one major company with many solutions,” stated Jack Falvey (pictured high left), COO of Falvey Insurance Group. “Historically, folks have identified the Falvey Cargo model, they’ve identified the Safe Harbor Vessel Pollution Insurance, or Falvey Shippers Insurance, they usually’ve identified them and interacted with them independently.
“We, as a company, have spent time and energy on the marketing and communications side on dividing ourselves among these MGAs,” stated Megan Bell (pictured high proper), Falvey’s director of promoting. With everybody coming beneath the Falvey flag now, “we’re fully focused on what the strengths are as one team.”
She had a particular message for his or her dealer companions, that it’s going to nonetheless be the “same kind of seamless experience,” with industry-leading expertise, world-class customer support, and specialised underwriting expertise.
At the beginning of 2023, the corporate had about seven totally different working items. Falvey has been concerned in gross sales conferences the place a consumer has been requested who they underwrite their vessel air pollution enterprise with. Their reply? Safe Harbor Pollution, not realizing that that firm was owned by Falvey.
“All of them have had different names, different logos, different marketing messages over the past that we’ve tailored specifically to that niche market,” Falvey stated. “We were a niche player in those specialty classes, and now we’re trying to bring them all under one umbrella.”
First inkling
The thought of bringing everybody again residence started in 2021.
“It began with a conversation about the website,” stated Bell, and the conclusion that “it would be so much simpler to understand if we were just marketing these products as our own.”
They spoke to some long-time workers, a few of whom, understandably, had a deep connection to their very own explicit model.
“They’ve only known themselves as one of our MGAs and not part of the Falvey Insurance Group necessarily,” stated Bell. “It was taking the time to make sure everybody was on board and understood the implications of the changes, and that everybody was comfortable and in support.”
In the summer season of 2022, the plans had been unveiled to the corporate employees.
“It was at that point that we really felt like everybody was buying in and understood,” she stated.
Since the corporate is “growing so much and so fast, this is just something that we need to do.”
Falvey identified that the group is a family-owned firm, and that because the plan was introduced, “our cross-selling has dramatically improved.”
Website
What bought this all began was a dialog concerning the firm web site, so it’s only becoming that the story culminate within the firm web site’s relaunch.
“The website’s going to have a lot more information about our products,” stated Bell. “There’s a whole lot we offer…so it’s our solutions rather than those brand names that were there before. It will be hopefully a lot easier for brokers to just get a really simple understanding of our product catalogue.”
It may even assist with on-line searches to assist folks discover Falvey merchandise extra rapidly, in search of product sort reasonably than model title.
“Our pages are a lot more simple,” she stated. “Another thing that we’re doing with our site is really trying to push people to our software. So most points of calls to action are telling people to go to our system. We’ve created great online systems that allow brokers and clients and partners to interact with us and do some of the processes and actions in the normal lifecycle of an insurance product directly.”
For a few years the corporate’s marine cargo insurance policies had been its “bread and butter,” in response to Bell, earlier than branching into transport insurance coverage for prime quantity, overland transport, and vessel air pollution with an apparent marine tie-in.
“But then we started to realize that if we’re going to stay within our niche, there’s so many more coverages that we can find, like transportation and logistics liability and our new wholesale division offers coverage that are also complimentary, that we don’t necessarily have an MGA solution for, we can still help our brokers find that and be the specialist for it,” stated Bell. “I think that’s the other strength is we’re remaining in our knowledge space. We’re going to be the authority on this type of coverage.”
Falvey famous that as one of many largest cargo insurers within the US, it has been coping with the provision chain disaster of the late pandemic period, when “everybody went online shopping,” and ports had been clogged, they’ve seen all of it. Ditto with the corporate’s title as the biggest vessel air pollution insurer in America, coping with every part from drought to flooding alongside the Mississippi River.
“You see a massive demand coming through on those and being able to work with great companies that are on the ground, interacting in real time, is a fascinating space for us to be in and that’s why we’re so passionate,” stated Falvey.